Priory Marine Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 09769994

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		165,119		76,871

			165,119		76,871
CURRENT ASSETS
Stocks	5	53,865		24,356
Debtors	6	57,831		132,901
Cash at bank and in hand		46,281		43,048

		157,977		200,305
Creditors: Amounts Falling Due Within One Year	7	(163,263 )		(159,336 )

NET CURRENT ASSETS (LIABILITIES)			(5,286 )		40,969

TOTAL ASSETS LESS CURRENT LIABILITIES			159,833		117,840

Creditors: Amounts Falling Due After More Than One Year	8		(45,533 )		(4,470 )

NET ASSETS			114,300		113,370

CAPITAL AND RESERVES
Called up share capital	10		1		1
Profit and Loss Account			114,299		113,369

SHAREHOLDERS' FUNDS			114,300		113,370

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Priory Marine Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Richard Bates Director	Mr Anthony Bates Director
27 October 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Priory Marine Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09769994 . The registered office is Priory Marine Limited, Meadow Drove, Bourne, PE10 0AH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on cost
Motor Vehicles	25% on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax is recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Priory Marine Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2025: 8)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 April 2025	45,176	150,003	6,560	201,739
Additions	4,419	133,960	-	138,379
Disposals	(13,200 )	(39,316 )	-	(52,516 )

As at 31 March 2026	36,395	244,647	6,560	287,602

Depreciation
As at 1 April 2025	42,829	75,479	6,560	124,868
Provided during the period	1,892	20,719	-	22,611
Disposals	(13,200 )	(11,796 )	-	(24,996 )

As at 31 March 2026	31,521	84,402	6,560	122,483

Net Book Value
As at 31 March 2026	4,874	160,245	-	165,119

As at 1 April 2025	2,347	74,524	-	76,871

5. Stocks

	2026	2025
	£	£
Stock	53,865	24,356

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	42,187	113,208
Other debtors	15,644	19,693

	57,831	132,901

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	22,767	1
Trade creditors	85,849	55,062
Other creditors	46,565	65,643
Taxation and social security	8,082	38,630

	163,263	159,336

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Priory Marine Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	45,533	-
Bank loans	-	4,470

	45,533	4,470

9. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	22,767	1
Later than one year and not later than five years	45,533	-

	68,300	1

	68,300	1

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	1	1

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